Equity
MATHICO has made a profit in every financial year since 2017.
The dashed line is the sector median: 0.1% across 48,568 companies (NACE 70, micro).
About 3 in 1,000 comparable companies go bankrupt within 12 months (an estimate).
The band follows from the bankruptcy probability. 10 more points roughly halve it.
| 75-100 | Excellent | under 0.55% |
| 60-74 | Healthy | 0.55% to 1.5% |
| 45-59 | Fair | 1.5% to 4.2% |
| 25-44 | Weak | 4.2% to 15.0% |
| 0-24 | Critical | over 15.0% |
Where the company stands within its band depends half on the bankruptcy probability and half on how it does against its sector peers (NACE 70, micro). It does better than 63% of them on solvency, 69% on liquidity, 32% on profitability and 42% on growth.
The bankruptcy probability was computed on 07-11-2026 by the bankruptcy model of 2 October 2026, which learns from Belgian bankruptcies and reads the registers, the annual accounts and the Belgian Official Gazette.
The probability rests on the annual accounts with balance sheet date 31-03-2026.
Of the companies with a bankruptcy probability in the very low class on 30-06-2025, 0.1% went bankrupt within twelve months.
Some facts cap the score, however low the probability. With negative or zero equity, a heavy loss, a special status in the KBO, one missing filing or accounts filed more than 90 days late, the score is Fair at most (59). With two missing filings, it is Weak at most (44). During a judicial reorganisation or at the company's end (bankruptcy, dissolution, liquidation), it is Critical at most (24).
Liquidity is insufficient, with a current ratio of 0.01 (0.01 in 2025), below 1. Short-term debt is 28.4% of total assets. 32.3% of the assets are financed with debt and provisions.
Show the recommended maximum and see how the verdict changes with amount, term and advance.
The scores and ratios are Checked's own calculations, not a credit decision.
The company filed its last 7 accounts on average 7 days before the deadline. In the sector (NACE 70), the median for financial year 2024 was 9 days before the deadline, and 32% of those companies filed late.
| Company | ||||
|---|---|---|---|---|
| MATHICO Leuze-en-Hainaut | €1.0m | €58,729 | 67.7% | - |
| HOLDING ROSA Mouscron | €0.9m | €52,161 | 10.0% | - |
| MCCL HOLDING Charleroi | €1.1m | €65,690 | 22.6% | - |
| VR INVEST Bruges | €1.0m | €60,840 | 13.3% | - |
| Compagnie des Erables Sint-Genesius-Rode | €1.0m | €60,497 | 21.2% | - |
| EPSA MARKETPLACE Belgium Ghent | €0.9m | €59,184 | -17.8% | - |
| Backslash Uccle | €0.9m | €56,205 | 48.6% | - |
These companies have the same main activity as MATHICO: business and other management consultancy (NACE 70200). They are comparable in size and age: total assets between €861,000 and €1.1m, founded between 2014 and 2016.
MATHICO files the abbreviated format. That format states no turnover. The gross margin rose from €49,560 in 2017 to €58,729 in 2026.
Sources: KBO register, filings at the National Bank, Belgian Official Gazette.
The turnover shown is an estimate from the gross margin.
Turnover ≈ €120,000. Estimated: probably between €84,000 and €180,000.
Higher than 61% of 10,855 companies in 2025.
Lower than 95% of 10,477 companies in 2025.
Higher than 59% of 10,724 companies in 2025.
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Balance sheet: assets | |||||||||||
20/58 |
987,849 | 1.0m | 1.1m | 964,449 | 977,304 | 899,991 | 946,701 | 981,361 | 979,672 | 1.1m | |
21/28 |
984,514 | 1.0m | 1.1m | 943,511 | 957,072 | 899,467 | 908,809 | 926,395 | 943,980 | 923,096 | |
22/27 |
92,741 | 136,598 | 180,455 | 51,738 | 65,299 | 7,694 | 17,036 | 34,622 | 52,207 | 31,323 | |
24 |
92,741 | 136,598 | 180,455 | 51,738 | 65,299 | 7,694 | 17,036 | 34,622 | 52,207 | 31,323 | |
28 |
891,773 | 891,773 | 891,773 | 891,773 | 891,773 | 891,773 | 891,773 | 891,773 | 891,773 | 891,773 | |
29/58 |
3,335 | 3,468 | 20,317 | 20,938 | 20,231 | 524 | 37,891 | 54,967 | 35,692 | 135,850 | |
40/41 |
- | - | 9,554 | - | 14 | 28 | 10 | 17,431 | 7 | 85,302 | |
40 |
- | - | 9,554 | - | - | - | - | 17,418 | - | 84,875 | |
41 |
- | - | - | - | 14 | 28 | 10 | 13 | 7 | 427 | |
54/58 |
- | - | 4,214 | 13,644 | 20,050 | 333 | 37,722 | 37,535 | 35,685 | 50,549 | |
490/1 |
3,335 | 3,468 | 6,549 | 7,294 | 167 | 163 | 159 | - | - | - | |
| Balance sheet: equity and liabilities | |||||||||||
10/49 |
987,849 | 1.0m | 1.1m | 964,449 | 977,304 | 899,991 | 946,701 | 981,361 | 979,672 | 1.1m | |
10/15 |
668,321 | 665,334 | 585,082 | 506,209 | 438,235 | 364,390 | 294,826 | 243,656 | 124,974 | 15,286 | |
10/11 |
18,600 | 18,600 | 18,600 | 18,600 | 6,200 | 6,200 | - | 6,200 | 6,200 | 6,200 | |
100 |
- | - | - | - | - | - | - | 18,600 | 18,600 | 18,600 | |
101 |
- | - | - | - | - | - | - | 12,400 | 12,400 | 12,400 | |
11 |
- | - | - | - | - | - | 6,200 | - | - | - | |
1100/10 |
- | - | - | - | - | - | 6,200 | - | - | - | |
13 |
3,467 | 5,942 | 8,417 | 10,892 | 13,367 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | |
130/1 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
130 |
- | - | - | - | - | - | 1,860 | 1,860 | 1,860 | 1,860 | |
1311 |
1,860 | 1,860 | 1,860 | 1,860 | 1,860 | 1,860 | - | - | - | - | |
132 |
1,607 | 4,082 | 6,557 | 9,032 | 11,507 | - | - | - | - | - | |
14 |
646,254 | 640,792 | 558,065 | 476,717 | 418,668 | 356,330 | 286,766 | 235,596 | 116,914 | 7,226 | |
16 |
536 | 1,361 | 2,186 | 3,011 | 3,836 | - | - | - | - | - | |
168 |
536 | 1,361 | 2,186 | 3,011 | 3,836 | - | - | - | - | - | |
17/49 |
318,992 | 365,144 | 505,277 | 455,229 | 535,232 | 535,601 | 651,875 | 737,705 | 854,698 | 1.0m | |
17 |
35,565 | 86,422 | 192,622 | 182,792 | 271,333 | 333,599 | 454,015 | 577,049 | 697,607 | 788,825 | |
170/4 |
35,565 | 86,422 | 192,622 | 182,792 | 271,333 | 333,599 | 454,015 | 577,049 | 697,607 | 788,825 | |
42/48 |
280,381 | 277,018 | 304,955 | 270,684 | 263,226 | 201,585 | 197,265 | 159,465 | 156,151 | 252,884 | |
42 |
60,428 | 111,180 | 106,200 | 88,541 | 127,900 | 120,416 | 123,034 | 120,558 | 117,516 | 85,860 | |
43 |
2,649 | 328 | 26 | 26 | 18 | 10 | 8 | 7 | - | - | |
430/8 |
2,649 | 328 | 26 | 26 | 18 | 10 | 8 | 7 | - | - | |
44 |
18,474 | 18,870 | 43,923 | 9,308 | 2,844 | 8,217 | 4,779 | 4,275 | 4,630 | 1,150 | |
440/4 |
18,474 | 18,870 | 43,923 | 9,308 | 2,844 | 8,217 | 4,779 | 4,275 | 4,630 | 1,150 | |
45 |
44,831 | 76,865 | 46,537 | 64,851 | 51,257 | 51,068 | 28,709 | 29,251 | 26,195 | 18,772 | |
450/3 |
44,831 | 76,865 | 46,537 | 64,851 | 51,257 | 51,068 | 28,709 | 29,251 | 26,195 | 18,772 | |
47/48 |
153,999 | 69,774 | 108,268 | 107,958 | 81,208 | 21,874 | 40,734 | 5,373 | 7,810 | 147,103 | |
492/3 |
3,045 | 1,705 | 7,701 | 1,752 | 673 | 417 | 596 | 1,191 | 940 | 1,951 | |
| Income statement | |||||||||||
9900 |
58,729 | 161,730 | 148,993 | 102,681 | 126,673 | 116,594 | 102,392 | 59,697 | 57,702 | 49,560 | |
630 |
43,857 | 43,857 | 32,122 | 15,165 | 12,619 | 9,342 | 17,585 | 17,585 | 17,585 | 18,134 | |
640/8 |
2,653 | 4,409 | 8,092 | 8,602 | 7,731 | 5,232 | 3,775 | 1,867 | 4,965 | 813 | |
9901 |
12,219 | 113,464 | 108,779 | 78,914 | 106,323 | 102,020 | 81,032 | 40,244 | 35,152 | 30,612 | |
75/76B |
- | 42 | - | - | - | - | - | 100,085 | 100,095 | 83 | |
75 |
- | 42 | - | - | - | - | - | 100,085 | 100,095 | 83 | |
65/66B |
7,536 | 8,956 | 8,241 | 6,995 | 9,297 | 11,580 | 13,889 | 15,606 | 18,245 | 17,195 | |
65 |
7,536 | 8,956 | 8,241 | 6,995 | 9,297 | 11,580 | 13,889 | 15,606 | 18,245 | 17,195 | |
9903 |
4,683 | 104,551 | 100,538 | 71,919 | 97,026 | 90,440 | 67,143 | 124,723 | 117,002 | 13,500 | |
780 |
825 | 825 | 825 | 825 | 289 | - | - | - | - | - | |
680 |
- | - | - | - | 4,125 | - | - | - | - | - | |
67/77 |
2,520 | 25,124 | 22,490 | 17,170 | 19,345 | 20,875 | 15,973 | 6,041 | 7,313 | 4,415 | |
9904 |
2,987 | 80,252 | 78,873 | 55,574 | 73,845 | 69,564 | 51,170 | 118,682 | 109,689 | 9,086 | |
789 |
2,475 | 2,475 | 2,475 | 2,475 | 868 | - | - | - | - | - | |
689 |
- | - | - | - | 12,375 | - | - | - | - | - | |
9905 |
5,462 | 82,727 | 81,348 | 58,049 | 62,338 | 69,564 | 51,170 | 118,682 | 109,689 | 9,086 | |
| Appropriation of the result | |||||||||||
9906 |
646,254 | 640,792 | 558,065 | 476,717 | 418,668 | 356,330 | 286,766 | 235,596 | 116,914 | 9,086 | |
14P |
640,792 | 558,065 | 476,717 | 418,668 | 356,330 | - | - | - | - | - | |
691/2 |
- | - | - | - | - | - | - | - | - | 1,860 | |
6920 |
- | - | - | - | - | - | - | - | - | 1,860 | |
| Document | |||||||||||
The notes to these accounts have 7 items, including the statement of assets and debts, the cost breakdown and rights and commitments. You find them in the accounts filed with the NBB.
Source: Annual accounts 2026 at the NBB, filed on 21-10-2026.
| Financial year | Type | Filed | Reference | Document |
|---|---|---|---|---|
| 31-03-2026 | abbreviated format | 21-10-2026 | 2026-00566392 | |
| 31-03-2025 | full format | 14-10-2025 | 2025-00541381 | |
| 31-03-2024 | full format | 30-10-2024 | 2024-00519064 | |
| 31-03-2023 | full format | 24-10-2023 | 2023-00490669 | |
| 31-03-2022 | full format | 28-10-2022 | 2022-20475036 | |
| 31-03-2021 | full format | 21-10-2021 | 2021-72900518 | |
| 31-03-2020 | full format | 28-10-2020 | 2020-65300083 | |
| 31-03-2019 | micro format | 22-10-2019 | 2019-71100448 | |
| 31-03-2018 | full format | 22-10-2018 | 2018-69800591 | |
| 31-03-2017 | full format | 21-11-2017 | 2017-70000009 |
| Line | Trend | 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 56,076 | 157,321 | 140,901 | 94,079 | 118,942 | 111,362 | 98,618 | 57,829 | 52,737 | 48,747 | ||
| 46,844 | 124,109 | 110,995 | 70,739 | 86,464 | 78,907 | 68,755 | 136,267 | 127,274 | 27,220 | ||
| 0 | 0 | 161,322 | 1,603 | 70,225 | 0 | 0 | 0 | 38,469 | 941,230 | ||
| - | - | -9,430 | -6,406 | 19,717 | -37,388 | 186 | 1,850 | -14,863 | - | ||
| -277,046 | -273,550 | -284,638 | -249,746 | -242,995 | -201,061 | -159,373 | -104,498 | -120,459 | -117,034 | ||
| 67.7% | 64.5% | 53.6% | 52.5% | 44.8% | 40.5% | 31.1% | 24.8% | 12.8% | 1.4% | ||
| 0.01 | 0.01 | 0.07 | 0.08 | 0.08 | 0.00 | 0.19 | 0.34 | 0.23 | 0.54 | ||
| 0.48 | 0.55 | 0.86 | 0.90 | 1.22 | 1.47 | 2.21 | 3.03 | 6.84 | 68.28 | ||
| 0.4% | 12.1% | 13.5% | 11.0% | 16.9% | 19.1% | 17.4% | 48.7% | 87.8% | 59.4% | ||
| 0.3% | 7.8% | 7.2% | 5.8% | 7.6% | 7.7% | 5.4% | 12.1% | 11.2% | 0.9% | ||
| 7.44 | 17.57 | 17.10 | 13.45 | 12.79 | - | - | - | - | - |
EBIT margin: not included in this filing.
A Belgian filing has no cash-flow statement. Cash flow is therefore an approximation, derived from the income statement. Investment is the acquisitions in the notes and, without them, the balance-sheet move.
| Item | 31-03-2026 | 31-03-2025 | 31-03-2024 | 31-03-2023 | 31-03-2022 |
|---|---|---|---|---|---|
| Tangible fixed assets | - | - | €161,322 | €1,603 | €70,225 |
| €43,857 | €43,857 | €32,122 | €15,165 | €12,619 |
Source: notes to the 2022 to 2026 annual accounts (statement of fixed assets)
The operating result for 2026 is 89% lower than in 2025 and the lowest since 2017.
Debt's share of the balance-sheet total falls from 35.4% to 32.3%. Equity is higher and debt is lower.
Source: list of holdings in its own 31-03-2026 accounts. Every holding stands with its own latest accounts.
Source for every holding own accounts 31-03-2026
MATHICO or one of its subsidiaries holds more than half of the shares of these companies. A company it consolidates per the LEI register is listed too.
| Name | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| DAPSENS - SOYER IMMO | 100% | |||||||||
| DAPSENS - SOYER | 1% | |||||||||
Source: list of holdings in its own accounts
The network lets you explore the ties of MATHICO.
Deadline for the 2027 accounts: 31-10-2027
Financial milestones sit on the financial year-end date, not the filing date.
Sources: Publications in the Belgian Official GazetteFilings with the National Bank
| Establishment | Since | Unit number |
|---|---|---|
| Rue de Wattines (C.W.) 15 registered office 7903 Leuze-en-Hainaut | 22-06-2015 | 2.243.297.026 |
| Cadastral parcel | Area | Buildings | Height / floors |
|---|---|---|---|
| 57020B0983/00F000 | 3,790 m² | 1 · 200 m² | 9.3 m · 2 |
If something looks wrong or is missing, please tell us.